The Firm recently represented Pinnacle Foods Inc. (“Pinnacle Foods”), a portfolio company of The Blackstone Group, L.P., in connection with its initial public offering of common stock. The offering of 33,350,000 shares of common stock, which included the underwriters’ option to purchase 4,350,000 additional shares, raised approximately $667 million in gross proceeds. The shares of Pinnacle Foods are now listed on The New York Stock Exchange under the ticker symbol “PF.”
Pinnacle Foods expects to use all of the net proceeds of the initial public offering to repay existing indebtedness.
The underwriting syndicate was led by Barclays Capital Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Pinnacle Foods is a leading manufacturer, marketer and distributor of high-quality, branded food products in North America. Pinnacle Foods’ brands are leaders in many of their respective categories, and Pinnacle Foods holds the #1 or #2 market share position in 10 of the 12 major product categories in which Pinnacle Foods compete.
The Simpson Thacher team included Richard Fenyes, Ed Tolley, Sunny Cheong, Miles Chan and Kim De Glossop (Capital Markets), Dov Gottlieb, Jennifer Nadborny and Frank Kwok (Public Company Advisory Practice), Matthew Reichstein and Denis Griffin (M&A), Alden Millard and Brian Gluck (Credit), Gary Mandel and Andrew Purcell (Tax), Greg Grogan, David Rubinsky and Jennifer Pepin (Executive Compensation and Employee Benefits), Adeeb Fadil and Noreen Lavan (Environmental), Marcela Robledo (Intellectual Property) and Jennie Getsin and Andrew Pagliughi (FINRA).